| 10 yr interest only 30 yr fixed IS A 30 yr fixed rate program with the first 10 yrs being interest only
You may be confusing this with an adjustable 10/1 which is a 10 yr fixed rate then turns into an adjustable rate after 10 yrs
they also have these in 5/1 and 7/1 fixed period for the first 5 or 7 years then turns into an adjustable rate after that ...most people sell after about 7 years
the infamous 2/1 or commonly referred to as a 2/28 or 3/27 is the ones that freaks people out
Although they do serve a purpose generally people with bad credit no money and high debt to income. Your supposed fix your credit during this period and then get out of them.
Option arms are the killers use these for very specific reasons. | 
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